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states, 7% china, 5% india, negative one in europe. in that environment you want to own a portfolio of multinational companies with dividends, global exposure, it will provide as good of a return as anything else when you have bonds and cash paying so low. as long as you understand you're in the seven, 8% environment, portfolio stocks should be part of that. david: let's talk to a guy that says full speed ahead torpedoes. he thinks it will be better than this year was. saying people are confusing pickups for heart attacks in today's market to all these problems are going to seem like nothing when we come to the big gains of next year. you really think that will bear out, and how do you invest with that kinddof optimistic strategy? >> first of all what we have seen with investor sentiment is contradictory to what we've seen with consumer sentiment and business sentiment. when you see negative investor sentiment is not just in the retail side but also the institutional side creating a great potential opportunity for performance. secondly if you take a look at kicking the can down the
. the dollar has been lower. they have talked about the gains that we have been seeing over in europe. the euro top 50. that is very interesting, as well. this is the environment. it bodes very well. another winning day here on wall street. drug stocks, bank stocks doing well. the vix, the fear index, is to the downside. let's take a look at urban outfitters. taking a look at their quarterly sales. they are looking better than expected. under their umbrella is a name brand that a lot of the teenagers know very well. they had a good block friday. urban outfitters is up over two dollars. back to you. connell: as we get close to this fiscal cliff, both sides agreeing to get serious. we have heard the house speaker will update us on the talks within that hour from house floor. we will hear what speaker banner has to say. joining us right now are to congressman. would you vote if there was an agreement? >> i think it will be a balanced plan that will increase revenues by raising the rates on upper income families, but, at the same time, agreeing to substantial cuts. connell: the reason i started by
collapsed, places like russia, eastern europe. and for the rest of the world growth has basically meant increases in carbon. so the idea that comes from mainstream economics that you can decouple carbon from the size of the economy is not at all born out over the last 20 years. >> it's born out of germany. if someone can do it, it can be done, right? is that the answer? >> well, they've had very little slow gdp growth. and there they are an unusual economy. they've been able to export a lot of their -- big export surplus. >> everyone want to be germany. in the future, we will all be net exporters. >> can i make what is going to sound in this context like the naive case for growth and remind us why -- >> i want you to. >> why it's actually important? so, you know, let's stipulate yes, climate change is really important and, yes, juliet is absolutely right. it's really hard to do both at the same time but we have to be really careful to sort of -- it can be easy to say, let's forget about growth. all of these other things, children playing and being happy are so important. the reality is
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to happen in europe about the future whether their taxes are going to go aboard not. the problem is if you are holding on to your cash because darrell issa fear you are losing money. is that -- can you get that message out? is there a way to address the people who are so fearful, who don't want to risk a lot of their money but to recognize it just to leave it stand is not helping them at all. >> i appreciate your question. this gets to the heart of the question. people getting so focus on the fiscal cliff that they are missing the big picture. the big picture we are delivered in one way or the other when you think of things in three frameworks the the supergood growth middle and growth dealing with fiscal the leveraging in a small amount and the downside of the fiscal cliff. the first category is not something we can really obtain. the other two are the more likely categories and they are the way to invest in those areas and the portfolio of getting returned in those areas -- [talking over each other] liz: they fan your portfolio. >> they need to give away the more distant up side. don't b
't know about double-digit earnings growth, but credit in europe, and a miracle in japan. it is incredible. earnings are starting to rebound because nominal gdp is increasing and the other thing about volatility, volatility is going lower making what could have been more tight, more stability going into next year. all of these things, they will have a great year as far as price concern. liz: we showed the s&p for the year up about 16% year-over-year. the nasdaq 17%, these are beautiful performances, can they continue through 2013? >> i got asked that question a lot. people say the market is up, they are expensive, that is not necessarily so. the market is up because the consumer confidence and spending and earnings are great and the stock market made up of individual stocks that represent corporate earnings. as i look out into 2013, i see a bunch of tailwind called the energy sector, the housing sector getting a lot better. i agree capital spending and manufacturing is making a renaissance in the u.s. and all that would achieve market make for good earnings. david: i brought it up with our
's mentioning that the feds started a two-day meeting here. that's not a big issue. europe, though, are we seeing signs of stress again with the concerns about leadership in italy, and problems in greece, and should we pay attention to that than the fiscal cliff discussions? >> well, you know, right now, doesn't seem like the market is paying attention to that right now. it reminds me a lot of september, before the election, when the s&p's rallied. everything was con taped. we were worried about central bank, liquidity, numbers okayed here, heating up in china. people thought europe was contained, and it feels that way now. people looking past the headlines whether it's the fiscal cliff or europe. i mean, there's a lot of doom day sayers out there, and it makes sense, but it seems like everything right now is contained, and the trade is up to the upside. david: right. liz mentioned the fed decision coming up, should be hearing about it tomorrow. what's the market expecting from the fed? in what way will they be excited or disappointed? >> well, i think the market, if you look at the option
things worse. europe is doing it, southern europe. it keeps raising. the economy contracts even more. about to go in recession. japan raising taxes. why in the world we would apply that poison to ourselves. lori: that is the ultimatum from the white house, as you know. because of the president's reelection they have the leverage. so are the republicans going to have any choice but to cave especially on the issue of raising taxes for higher-income americans? >> well, there are small business owners. 63 percent, and people who create capitol, invest capital. we have seen in europe and france especially, that kind of thing does not work. he does not have a mandate to hurt the economy which is the way the republicans should phrase this thing. why harm the economy now. lori: edges of the economy fall off the cliff to iraq or raising the tax on the wealthy. >> with the republicans should do, making the point they're raising taxes is a bad thing to do, let's postpone this bank. better to do that than to give poison to the patient now. our economy is starting to slow again. give people pause
murder rates. we have lower murder rates in other parts of the country than even in europe. than even where you come from. but what has created a problem in the united states, is to say in cities and schools, those are areas where we're not going to allow them to defend themselves? >> what is the murder rate in great britain for the last three years? >> it's under 3 for 100,000. >> just give me a number. >> it's actually .3 per 100,000. about a tenth of what it is in your vaunted english bucolic country, sir. the fact of the matter with guns comes safety. if the guns are in the hands of the good guys. when you say the good guys can't have guns, the bad guys have a monopoly and horrible things sufficient as shootings at schools take place. >> the ar-15 as we've seen in the last three shootings, aur a aurora, the shopping mall in oregon and now sandy hook, the preferred weapon for young men who want to transfer hundreds of bullets of rapid fire if you have the right magazines. the president has stated he wants to ban weapons like this. what is your view? >> i think we need to ban gun c
factors going on here too. europe and are drowning in debt. china has a near $3 trillion reserve surplus. you've got demographics. europe and america are aging rapidly. in europe the population is shrinking. there is no such demographic problem in china. you add it all together, debt, demographics and growth rate china is indeed on course to become number one fairly soon. gregg, hold on a second. there is a danger in just extrapolating out from current trends. what's in place will go on forever. we did that with japan 30 years ago. got that one wrong. maybe we shouldn't be extrapolating like this with china. gregg: the other thing that is very conspicuous here is the enormous trade imbalance with china. our trade deficit with china has tripled over the last 10 years. point of fact i just looked it up today. we export 7%. they export 23% to the united states. isn't that a job killer for americans? >> yes it is. there is no question about it. many of the jobs which our fathers and grandfathers had in the united states left a generation ago or 10 years ago, they left for china and that's ba
you go to europe, you know, the size is around the same but you see each state size is a country in europe. we are operating like a country. each state if colorado wants marijuana then they get it. if florida wants to have guns. was i was growing up i noticed that the federal government stepped in more. the lawmakers were accountable. if you went too mar far in your state the federal government slapped you back a little bit. when president obama came into arizona he got a stern talking to. and he's a chief of the country and he has a finger in his face. we have to have the respect for our leaders. the best that we can do is get the stand your ground laurie peeled. that is why we want to repeal that. >> lucia and ron and your lawyer, john phillips. thank you for coming here and telling the story. i'm very, very sorry that you are sitting here tonight telling the story that you have to tell. thank you. we'll be back. rivate world. at first, jake's family thought they saved ziggy, but his connection with jake has been a lifesaver. for a love this strong, his family only feeds him ia
of diplomacy helped broker a cease-fire. number three, in europe greece was the problem child that spent too much, save nothing and threatened to take down the euro. new leadership didn't stop constant violent protests, staged by those facing loss of jobs, pay cuts, higher taxes as their weary government begs for more cash. europe's leaders including the new french president committed to save the euro. it lives on, but for how long? number two. the deadliest month to date as the assad regime intensified its use of air power. >> one of the questions most asked in 2012, was how much longer can this man hold on to power? assad was under intense pressure to step down. but his regime stepped up the fire power against the opposition. civilians caught in the crossfire. more than 40,000 people have died so far. >> this is, yet, another bread line. >> the opposition fights on making more dramatic gains than ever and gaining pledges of additional support for the international community. number one -- she fought back from the brink of death after being attacked on a school bus. the taliban shocked. she
borrowing like this or we will have the same problems that europe is having. that is one of the frustrating things. they are not theoretical. that's not a classroom exercise. you can look at europe and see what happens if we continue down this path very much longer. >> alex rid man bill clinton's budget director put the bulk of the spending problems on the promises to medicare medicaid and lesser extent social security. >> they will drive federal spending occupy faster nan our economy can grow. revenues won't keep up. we have a problem. if you don't have enough revenues to pay for the spending you have to borrow. on the track that we are on if we go on doing what is in the law over the next several decades, our public debt will rise fast you are than our economy will grow. when that happens you have real problem. you have to pay interest on that debt and creditors see that your debt is rising faster than your economy is growing so they charge more and more. it is a very bad situation. >> arthur brooks with the american enterprise institute finds sur rent debates about higher taxes misguided
to southern europe so we are quite well-placed. mainly in northern europe, which has been somewhat less effective, so we are somewhat stable there. good growth in asia-pacific and latin america and frankly the united states as well. liz: the competitor, cisco coming in, they want into the optical switch business ramping up, how would you stay ahead of them? >> they're very specialist player. we're not trying to be all things to all people. as such we have a lot of leading technology in this space and already won a lot of the major deals ready to roll out. tracy: are you hiring now going forward? here in the u.s.? speaker yes, we're actually doing some hiring in the united states. liz: good to see you, have a happy holiday. >> thank you, you two. liz: 46% over the past year. gary smith saying they have a good year ahead. the fed are going after a star in the hedge fund world through employee who left the company two years ago going so hard to the point they want a former employee to flip and cooperate with the investigation. charlie gasparino has the latest on the screws content to be ti
minister resignation soon and the impact on europe's debt crisis. crude and in the day down $0.37 $85.56 per barrel. gasoline has come down $0.10 over the past few weeks. korn falling to a three-week low so far i'm growing demand overseas for supplies from the u.s. soybeans also dropping on slowing demand. david: peter kenny, to see his communicates, some of the best material on what is happening in the market around the world. we have him here live. and peter barnes with the latest developments on the fiscal cliff negotiations, but let's art in chicago with john, two very interesting situations continuing, drama over the fiscal cliff in d.c. and also this week we have the fed meeting. which is more important to the market? >> eventually it will be the fiscal cliff that is more important to the market, but make no doubt about it, the fed meeting with the announcement wednesday morning and wednesday afternoon is going to continue to support risk assets. you were talking about how the dollar is melting up for the fourth consecutive day. the federal reserve will make a very active effort
again, very tiny amounts of electricity, and in europe, we're seeing the green guru, james lovelock calls it the greatest folly on europe, relying on wind power to help base llad of electricity. denmark which people holds model, has not shut a single coal based plant or carbon based plant since they went all wind. sandra: easy to get emotional. so let's put facts. energy department under current administration spent $1.69 billion in loan guaranties for wind projects. >> yes. sandra: so far no offshore wind pardon me is operating today in american waters but yet we are now announcing tens of millions of more dollars being spent to do so. >> yeah. looks like first ones might go online in new jersey in 2013 or 2014. so it is still far away. even once you get it though, you still have all the other environmental issues from bird impacts, unsightlyness of it. it is intermittent power. all the money going into it, at the same time, we're shutting down coal and now the obama administration has announced its intent to go after natural gas tracking and shale oil -- fracking and shale oil bec
could hinge on how asia trades and europe trading after that. but with much of the western arms in particular europe, buying is going to get light approaching christmas holiday, a lot of people are heading out. which is why republicans have said, you know we'll regro, gather our marbles, and see you next wednesday. not good. more after this. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudden symptoms and should not be used more than twice a day. people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including
in europe, greece was the problem child that spent too much, saved nothing and threatened to take down the euro. new leadership, pay cuts, higher taxes as their weary government begs for more cash. committing to save the euro. it lives on, but for how long? >> the deadliest month to date as the assad regime intensified its air power. >> how much longer can this man hold on to power? bashar al assad was under even more intense pressure to step down but his regime stepped up the fire power against the opposition, civilians caught in the crossfire, more than 40,000 people have died so far. >> reporter: this is yet another bread line. >> the opposition fights on, making more dramatic gains than ever and gaining pledges of support from the international community. number one, she fought back from the brink of death after being attacked on a school bus. the taliban shot malala yousafzai. she survived, wake up in a british hospital and, according to her father, immediately asked for her school books. the world was gripped, moved and inspired by the story of one determined young girl facing do
, the bad news with merck on the cholesterol drug already approved in europe did not approval america. they spend a lot of money to come up with nothing in this country. for these companies to go out, getting some penetration in the marketplace, one of these rumors that may be viable. this is the $20 stock back in june so there's a lot of room to the upside. we take half on these ford of things especially if you make 14% to wait three four days and take it, not all that bad a cat and a month's run. dennis: is that flighty? a good company with good prospects and a takeover possibility why shouldn't i let my -- not take half of it? charles: it is called death of coin. how often the make 4% in three days? there are other competitors out there. doesn't have to be acquired. the public perception won't be as good. there are enough and knowns to register a little bit. cheryl: thank you. dennis: 15 past the hour, stocks every 15 minutes. team coverage, jeff flock in the trading pits of the cme, all the bad weather in the midwest, first nicole petallides on the stock exchange, the dow down. ni
to happen here. there's a huge stake. everyone realizes. europe has got its problems. germany starting to feel the effects of the global, of the downturn in europe. china, cutting its growth forecasts, india doing the same. the last thing anyone on the world stage needs right now is for the u.s. to start sliding back into recession. but you know, let's be clear here. that's, that would take some time. there would still be time for some kind of a deal. but it's the uncertainty that is really driving everybody's nerves in all of this. it's going to affect commodity prices in countries like brazil. countries like russia, everybody is in this together. waiting to see what happens up there. >> you're absolutely right. we're going to be watching those international markets to see how everybody is reacting. it's this whole big chain, jim, thank you for that back home, the senate is still trying to work towards a deal as jessica just told us, senator harry reid earlier said that he is in fact hopeful about reaching a deal. listen. >> with 36 hours left until the country goes over the cliff, i
, political, and then europe tipoff with the scientific and industrial revolution then within half a century the muslim world was we behind. john: was some fundamentalist criticize science because it is western. >> is true because of logical evolution the big bang theory, list of some research come in the radius that are disturbing and many muslims say this is from the west we don't have to take it. john: what is it like a your university teaching physics? >> there is a balance between modern education, not western. but heritage between the air of/muslim to instill so they grow up with a balanced mind and personality. john: 80% of muslim do not want evolution taught. >> they reject it and some say if you teach it as a series quote-unquote as a western scientists explain it it is okay. 80% rejected 50 percent don't teach it the other 50% teach it but it is not true as but necessary, evolution is taught in many parts of the world. all schools in egypt. even the teachers tell the students we teach you this but we don't believe it. it is a problem to explain people it does not have to be atheist
is their client. >> reporter: so far, only a few dozen have been sold in stores in europe and the u.s. but the orders keep coming in. even though there is some skepticism on the street. >> i think it's kind of creepy, actually. i don't like that idea at all. it just sort of seems a bit like big brother. >> that's weird. sick. >> especially if i was shopping in the underwear section. >> reporter: one high-end retailer in manhattan says it won't use the i.c., worried it may be an invasion of privacy. >> with the mannequin, i think it's even more frightening. it's almost as though -- remember that old movie "fx," somebody is watching you. so it's concerning. >> reporter: and in this economy, the last thing stores want to do is scare people away. >> if you're doing things the comfortable might not be comfortable with, you might have crossed the line. >> reporter: maybe if the mannequins were a little more human. >> yeah, i think that's a great idea. that way if you need something, you can ask them where it is. >> reporter: of course, there are actual real people already hired to do that
greece and half of europe. neil: some say we'll be like greece if in is no deal by the end of the year? >> i do not agree. we have to negotiate, the presiden needs to get involved. neil: the language changed little bit today, i notice when they are not attacking each other out in open, then progress must be being made. that is what led to rumors of a potential imminent deal yesterday. now they are back to sniping, speaker boehner and nancy pelosi and others going back and forth, that leads me to believe that things are falling apart, do you get that sense? >> we see here -- hear they are negotiating, we'll get a deal, then we hear the fighting going on, if the fighting continues, we're not getting a deal. i don't want a deal if it is just the same old deal that is not good for america. neil: do you worry, as i guy has been around the neck of the woods for a few years, that republicans are losing their verve. some more conservative members ve said we lost an election but we did not los everything that we stand for, yet, everything i hear talked about, are concessions on part of the repu
. james rose in with a live report . the fiscal cliff fallback plan fails. mr. president of europe. it's your turn to lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we get their god only knows. lou: chief economist joining us with perspectives on what is next for the markets, the ♪ lou: ten days until the fiscal clef. that's right. still counting. the market sell-off today on no solution and moody's chief economist and bedfrd of adviser and chairman ceo harvey eisen will join us in moments to make all of this rational and understandable. first, and the "moneyline," investors expressed disappointment in the republican failure to pass plan be by selling stocks of around the world. certainly adding to the drama today, a day in which four kinds of options expire, and that is expected a quadruple preaching day, plunging on the open, fighting its way back, ending with a loss of 121 points. that sounds lousy, but it is better than it had been. the s&p down just over 13, nasdaq
cliff fallback plan fails. mr. president of europe. it's your turn o lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we et their god only knows. lou: chief economist joining us with perspectives on what is next forthe markets, the ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. by december 22nd yep, there i am with flo hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. [sigh] it feels good to
cliff fallback plan fails. mr. president of europe. it's your turn to lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we get their god only knows. lou: chief economist joining us with perspectives on what is next for the markets, the ♪ any tree on this lot is on m i'm the messenger, by the way. what's your name? joanne. with the hundreds that i save with progressive on my car insurance, this tree is on me. no way. way. this tree is on me. really?! yes. aah! let me just trim it up a little bit for you. [ buzzing ] thank you. saving's greetings. you guys are gonna get this tree right here? are you sure that's the one? il tie it to the roof for you. make savings a new holiday tradition. ♪ ♪ lou: ten days until the fiscal clef. that's right. still conting. the market sell-off today on no solution and moody's chief economist and bedford of adviser and chairman ceo harvey eisen will join us in moments to make all of this rational and understandable. first, and th
. the fiscal cliff fallback plan fails. mr. president of europe. it's your turn to lead. >> the president and congress take action, tax rates will go up on every american taxpayer and devastating defense cuts will go into effect in ten days. how we get their god only knows. lou: chief economist joining us with perspectives on what is next for the markets, the economy, and the country. ♪ this family used capil one venture miles to come home for the holidays. that's double miles you can actually use... sadly, their brother's white christmas just got "blked out." brother ] but it's the family party! really jingles your bells, doesn't it? my gift to you! the capital one venture card! for any flight, any time! that's doue mis u can tually use! how illuminating. what's in your walt? let me guess, am on the naughty list again? ho ho ho! let me guess, am on the naughty list again? you know it can be hard to lbreathe, and how that feels. copd includes chronic bronchitis and emphysema. by keeping my airways spiriva helps control my copd symptoms open f 24 hours. plus, it reduces copd flare-ups. s
, probably because it's pretty clear china is both a competitor and a partner. >> number 4, europe. the european union was fractured by too much debt and the us a trty plans to fix it. that saga is far from over. >> number 3, the housing market finally bottomed out. the combination of low home prices and continued record low mortgage rates set off a building and buying spree. investors began buying entire neighborhoods but first-time buyers were also able to get a home of their own for the first time in years. as long as they had a hefty down payment. >> number 2. >> cnn projects that barack obama will be reelected president of the united states. >> the next. more than just about obama and romney. it was about socialism and capitali capitalism, about what kind of role government should have in your life. >> number 1 is the fiscal cliff. lawmakers saw it coming but didn't bother to pay any attention to it until after the election. had they put politics aside and dealt with it earlier, who knows how strong the u.s. economy would be right now. >> so those are the top 10 business stori
. as you know, senator inouyer is informed europe, where he was wounded and obviously, his amazing story of bravery during world war ii happened but he is being interred here at the punch bowl. senate majority leader harry reid is here, eulogized senator inouye and senator daniel acaca. it is fascinating, president obama is at thor is is mony watching this happen, just a reminder of just how long serving representing hawaii daniel inouye did, he represented hawaii from 1959, from before president obama was even born. he has been a main stay here in hawaiian politics and? a very significant moment for this state. >> also amazing that this guy served in world war two while members of his family were interred back in the u.s. an absolute hero. brianna, thank you very much. >>> no matter how the fiscal cliff negotiations play out, the wealthy will probably see their taxes go up, but congress can't seem to agree on hot wealthy is or are. even if they figure that out, there's also disagreement about how their taxes should go up. cnn's lisa sylvester sat down with a megamillionaire who says he
, europe, china, o wanted to stayere after they graduated and work their companies, create new start-ups, but they were unable to do so because after you graduate you get ajob with an existing compy or you leave and for many them that was not a good opti and they left and took their ideas and companies with them. >> so they get their fancy education here and go back to indian o someere else. >>guest: we would like to stem the tide and keep them closer, and bring them back to the united states so they can create new jobs. and new companies >> if they worked for a company they could have stayed? >>guest: if you g sponsored by a large corporation you can get the prop visas to work in the country t you cannot self sponsor and you canno be here and create your own start-ups without going through some pretty significant legal work. >> to build this b ship where people live cost as lotf money and people are actctually giving you money for this? >>guest: the face book funder and creator of pay pay pal is helping us and bringing in a nuer of investors. he will give us a significant fraction o
. >> let's see what happens at the start of the year. the fiscal cliff is not resolved, europe people think is resolved, recommending people go down the curb in terms of yield. less than four to five years of overall average duration of portfolio but investors rather have the ability to invest in case inflation does spike. you have to hunker down for the next six months to see how the economy pans out and is resolved. liz: yesterday robert gray did a report on taxi medallions, am i missing something, is there some great trade out there? >> look at the emerging market. they're the exact opposite of the rest of the world. take a look around, you have an interesting opportunity in china as the economy we accelerated in recent months and they can spend money through stimulus and they are cutting rates because they have a long way to go. i have levers to pull the rest of the developed world has already pulled and the pedal to the metal so it could be some opportunities. liz: what happens to the market tomorrow, do we recover, yes or no? >> all the euphoria built up ahead of the meeting has been
>> credit rating was reduced. >> we don't want to end up like europe. lou: great to see you both. now time for your h comments. writing into their hope barack obama gets all the taxes he wants. i'll bthe first to say i toldd you so when the consequence happens.n t people learn the hard way.n obama never negotiate, he just demands something of complaints. when he doesn't get what he wants. he is far more mature than that, don't you think? we will keep thinking about that. thank you for your comments. we love hearing from you. we love hearing from you. >>> a massive winter storm wreaks havoc bringing blinding snow and devastang tornadoes. at least six are dead, over a thousand flights canceled nationwide stranding holiday travelers and worries things could get worse. welcome, i'm eric bolling in for neil cavuto and this is your world and we're tracking a deadly winter storm as it makes its way towards the east coast. in indiana, heavy snow stranding dozens of vehicles asolkseal with blizzard. a foot in bloming to know. across the south and southst 34 twisters leveled homes. in miss
to the united states, europe, china. they're just dumping this money to the system to keep it going. as you mentioned, housing tarts , housing prices. tom: i have to tell you, i think i'm in yur camp on this one. i'm a be gloomier than the one housing because i don't see the fundamentals re still wrong. the people that are buying homes are investors paying all cash. maybe some starter homes, but the mortgages are still tough to get. the appraisers are still tough appraisals to get. and you have one at the three people in this country under water. i still don't see the fundamentals of the old buy and sell transaction sapping get. >> vote for me. on make things better. >> exactly. >> year 100 percent right. the onlyeason the housing market is going up is because interest rates are so. i'veeen of state kingston on one of the most historic quarters in the united states. the only pace on each corner where they're is a stone building thatreed -- predate the revolution, and that just bought one. seventeen fifties building. i just got a commercial loan at three 1/4%. they cover closing costs. ten y
, europe has itself under control in america is about to. they are the leaders right now. liz: are we at $90?f course thet session. >> we are right there, but i will stick with my gun and say what we said last year. i am a buyer at 85, that is supply and demand thing. with the market the way we are at the end of the year, low volume tends to get in the way. i think financials getting spiked over the year, more of a rally tomorrow but i will stick with my gun, don't think you'll miss the move if you don't get in here at the dollars going forward. i am a buyer at 85, a seller at 90. liz: more than $0.50 away. when we started we were $0.03 away. >> it is a lot easier than it looks, good luck selling $90. liz: $89.51 at the moment. thanks to everybody on the floor show. we'll watch the market so carefully but when you pick apart individual stories the one that has captured the attention of this nation today in a very big way is the facebook instagram story. dollar signs dancing is now turned blurry after a massive pr misstep causing a near revolt giving competitors glittery eyed. facebook
partners, britain and europe and canada -- they are only 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growth of economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a lot of developed countries out there -- what would be the practical effect? >> it will slow the flow of venture capital and investment for high-technology companies. if you think about every major high-tech company like apple or microsoft or ebay or amazon, they were all nurtured by high income people putting money in early on to these startup companies. we dramatically cut the capital gains tax rate from 40% to 20% before, so what we are going to do is kill america's entrepreneurial economy. gerri: let's get into the details of this. why you would want to keep these capital gains taxes low. you say it is an issue of double taxation. >> that's right. corporate profits are taxed at the corporate level.
years. we're closingin on europe with blinding speed. and consequences are reduced growth and reduced well-being. that is what the conversation ought to be about. neil: to that santa analogy, one thing very clear to me, we live in a society where entitlements are just expected, the gifts are just expected, the free bys are just expected. web sites logged on to see how many benefits you're eligible for, that are expected. i'm not saying there are not genuinely needy deserving folks in this country. we're more about what we get than what we can control. you know?t control. >> you know, neil, the other thing is, that the santa implication is that congress is just doling this stuff out. ie, nobody has to produce it. neil: that's right. >> nobody has to pay any taxes. it all comes from somebody and they don't really want to face that issue. neil: no, they don't. it is about personal responsibility at the end of the day, that is really what the fight is about. are people responsible for their oww lives or are we entitled to what somebody else produces? that is the issue. neil: want to stick
, print that money, catch up to the united states, europe, china. they're just dumping this money to the system to keep it going. as you mentioned, housing starts , housing prices. tom: i have to tell you, i think i'm in your camp on this one. i'm a be gloomier than the one housing because i don't see the fundamentals are still wrong. the people that are buying homes are investors paying all cash. maybe some starter homes, but the mortgages are still tough to get. the appraisers are still tough appraisals to get. and you have one at the three people in this country under water. i still don't e the fundamentals of the old buy and sell transaction sapping get. >> vote for me. on make things better. >> exactly. >> year 100 percent right. the only reason the housing market is going up is because interest rates are so. i've been of state kingston on one of the most historic quarters in the united states. the only place on each corner where they're is a stone building that greed -- predate the revolution, and that just bought one. seventeen fifties building. i just got a commercial loan
on in the u.s. with the fiscal cliff, and before that, it was all about europe. david: larry, your picks, disney and direct tv, i know you like the vegas stocks, las vegas sans, boyd gaming as well, but what about john's point that just to be safe because you never know. i mean, the worse can happen, happened before, and could happen again, those jokers inside the beltway very often don't come to a conclusion. wouldn't it be safe to put at least 10 #% of the portfolio in cash right now just in case? >> i just can't see it. the math is so compelling on the other side, and you have this just incredible sentiment. thirty years now, you have not been able to lose money in bonds. a lot of people think that it's impossible to lose money in bonds, and it is. you surely are not going to make any money in bonds other than clip your coupon. you're not going to make any money in cash. david: let me just stop you for a sec about bonds here because it is not impossible to lose money on bonds if the companies they are based on go bankrupt or the governments they are based on go bankrupt, and people ar
that money, catch up to the united states, europe, china. they're just dumping this money to the system to keep it going. as you mentioned, housing starts , housing prices. tom: i have to tell you, i think i'm in your camp on this one. i'm a be gloomier thanhe one housing because i don't see the fundamentals are still wrong. the people that are buying homes are investors paying all cash. maybe some starter homes, but the mortgages are still tough to get. the appraisers are still tough appraisals to get. and you have one at the three people in this country under water. i still don't see the fundamtals of the old buy and sell transaction sapping get. >> vote for me. on make things better. >> exactly. >> year 100 percent right. the only reason the housing market is going up is because interest rates are so. i've been of state kingston on one of the most historic quarters in the united states. the only lace on each corner where they're is a stone building that greed -- predate the revolution, and that just bought one. seventeen fifties building. i just got a commercial loan at three 1/4%. t
coming from eastern europe and has the project blitz free is being led by a mysterious russian attacker and many targeted may not even realize it. >> you're someone with a substantial amount of money in your account. you logon one day and have a smaller amount than before but you've been hacked. that could happen to thousands of americans this coming spring. a new report says some of america's biggest banks, 30 of them, are at risk of a master cyber attack that could siphon millions of dollars from unsuspecting customers. >> we've found to date 3 and 500 devices that have been infected within the u.s. pat calhoon mcafee won't name the individual bank but account holders in many of the large mainstream banks are targeted. mcafee says this attack is from a cyber gag with a handle. >> he's trying to build attackers to expand the scope of the project. so that's the first thing. but how it's actually executed in the project itself is that he has computers that are basically monitoring and controlling all of these infected devices. >> calhoon says the attackers are going after individuals who
to their country of origin. >>> this is the most-watched singing contest in europe. it's got the glitz, the glamour, but -- >> it costs to perform, and it costs to stage it. and what do you get back? bluntly, you get a bunch of hoopla and a few pom-poms. >> wow. what some european countries on the verge of bankruptcy, many feel participating in the contest, well, strikes the wrong chord. through diet and exercise, alli can help you lose one more by blocking some of the fat you eat. let's fight fat with alli. ♪ i get congested. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me breath freer, so i can love the air. [ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super s
for a recession maybe by march, maybe by april. we also have very powerful headwinds coming from europe that is in recession because it bought into austerity economics and that's what we would be buying into in a very big way if nothing changed. we also have china that is slowing down. globally and also domestically there is not enough demand to keep the economy going and i would say the worst scenario of all -- i don't think it's going to happen, but probably by march we're going to see some real problems in the economy if nothing happens. ou and i agreee do go off the cliff, so to speak, on january 1st, that the negotiations to fix this problem would begin somewhere around january 2nd? >> probably the 8:00 a.m. the morning of january 2nd. they are going on right now. >> yes. >> there is probably a slightly better than 50/50 chance that there will be a deal before december 18th. assuming that we're close to a deal, i think it's going to happen right away and the democrats are going to be preparing legislation and it's going to be introduced right away, january 2nd, to make a middle cla
in our country is 35%. in canada, it's 15%. in bermuda, i think it's 9%. across europe, alternates in the 20s. money goes to where it's welcome, money is not welcome in the united states. what the president's trying to do is make it worse so money and people will flee. people will flee if you raise their taxes. they won't work as hard. you will get less revenue, not more, exactly the opposite of what the president wants. >> for years and years and years, everyone's programming a great tax code reform. that's all i have been hearing. maybe we will get it sometime. but i'm not holding my breath. >> thank you. >> straight ahead, more than three months ago, four americans, murdered in libbia. now, the u.s. is tracking the suspects. so why don't we just get them? find out, coming up. the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering
takes any action, it should study the situations in eastern europe and russia where most guns are banned. hasn't cut down on gun violence, however. as those countries have a higher murder rate than the usa. also the gun murder rate here in america has almost been cut in half in the past 20 years. talking points wants a sane country with smart public safety measures. do we need semiautomatic rifles to be easily available? that's a worthy debate. and there are strong points on each side. clearly we the people, have to take a tough look at our violent society and find some effective solutions without violating constitutional rights. a very difficult situation, but we have to try. that's a memo. now for the top story, reaction. joinings from phoenix, alan gottlieb, founder of the second amendment foundation, national rifle association, would not provide, would not provide a spokesperson this evening. so do you have any give at all? is there any area that you would compromise as far as new laws making it more difficult to obtain certain weapons? >> first, bill, let me say i thought your talk
plan that helped europe regain its strength. and pioneered the atm, so you can get cash when you want it. it's been our privilege to back ideas like these, and the leaders behind them. so why should our anniversary matter to you? because for 200 years, we've been helping people and their ideas move from ambition to achievement. and the next great idea could be yours. ♪ >>> thanks to everyone for a great discussion here. i hope you have a happy holidays. if you're looking for a last-minute christmas gift for the history buff in your family,
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